NFT (nonfungible token) is a token that can be swapped or exchanged – it is a unit of value unto itself. It’s currency on the blockchain.
Typically it used to sell art, or one off creations that artists sell. Anyone can copy and sell the art but the artist retains the original token.
Perhaps an old car print or a digital picture of one of your pieces of art. Like a shared databse it is backed up by computers all over the world. So difficult to defraud.
Some think this is a bubble ready to burst. Others a form of currency that is here to stay. Humans have always swapped and bartered whatever they need. But is this what we need?
Copyright Adrian Scott
North London Counsellor Blog 2021
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Disclaimer: This weblog is the view of the writer and for general information only
This article is designed to provoke argument and critique